PT Pertamina UR II Dumai

Pertamina strives to be an excellent, progressive, and respected leading company. Our mission is to carry out business in energy and petrochemicals; to contribute added value for the shareholders, clients, workers, and the society and to support national economic growth; and to be a professionally managed, competitive company based on excellent values.

In 1993 and 1994, Pertamina launched a restructuring program designed to cut costs and increase efficiency. During the course of its efforts, however, the company became entangled in one of Indonesia's worst economic crises. By the mid-1990s, Indonesia was experiencing low employment, price increases, food shortages, and major devaluation of its currency, the rupiah. In fact, by December 1997, the rupiah had been devalued by nearly 40 percent over the course of one year. As the country's banks failed, the Indonesian government looked to the International Monetary Fund (IMF) for a bailout. The IMF agreed, offering approximately $23 billion in funds to restore the region's financial health.

Meanwhile, Soeharto's government was under attack for its corrupt policies. The president's 32-year reign came to an end in 1998 when he was forced to step down. His vice-president, B.J. Habibie, took over for a short while before Abdurrahman Wahid gained control in 1999. Wahid, nearly blind and suffering from two strokes, was eventually impeached in July 2001. Megawati Sukarnoputri was named his successor.

During this government shakeout, Pertamina experienced change of its own. While Soeharto had been in power, Pertamina had awarded 159 contracts to companies linked to Soeharto's family and friends. The Oil and Gas Journal claimed in July 1999 that "an independent report issued by Pricewaterhouse Coopers on July 9 revealed that graft and efficiency cost Pertamina about $6.1 billion in lost revenue during 1997 and 1998. The funds were lost due to embezzlement, illegal commissions, mark-ups on procurement contracts, and sheer inefficiency." Baihaki Hakim, a U.S. oil executive, was appointed CEO in 2000 and immediately began to overhaul Pertamina's corrupt business practices. By 2001, Hakim had issued the company's first financial report to the public, fired Soeharto cronies, cut jobs, and slashed more than $1 billion in costs. The new leader also changed the company's bidding process, making it more competitive, and began to file corruption charges against those who had defrauded Pertamina in the past.

While Pertamina's role in the Indonesian oil and gas sector remained uncertain, the company continued with its internal strategy, which focused company efforts on becoming a global oil and gas company able to compete with the leading companies in the world. During 2001, Pertamina inked a deal with Petronas--Malaysia's state-owned oil company--that was worth approximately $3 billion. Under the terms of the deal, Pertamina would deliver LNG from the West Natuna gas field in the South China Sea to Malaysia. The company also kept its exploration business at the forefront of operations--it hoped to discover 118 million barrels of new oil reserves and 3.6 trillion cubic feet of natural gas reserves during 2003.

Restructuring Program Pertamina since 1994 so many external constraints and internal mindset among companies that have not fully accept the changes, which they fear disturbing the comfort zone that they feel during this. But then the only constraint is solved, and Pertamina also accelerate the movement of changes through Pertamina Transformation Program since 2006.

Transformation has been three years running. Program changes were held through two channels, namely the project breakthrough (Breakthrough Project, BTP) and change the performance culture. Even more recently directed BTP supports the Long Term Plan of the Company (RJPP), it appears BTP BTP RJPP RJPP 2008 and now 2009.

Transformation is a process of change required by a corporation to position themselves to better address and respond to new business challenges, business environments change rapidly. Also how to create new desires that arise from within the company.

CONTACT PERTAMINA

Fix Phone
: 500 000 (from all cities in Indonesia)
Phone
: +62 21 7917 3000
Fax
: +62 21 7972 177
SMS
: +62 21 7111 3000
E-Mail
: pcc@pertamina.com

PT Pertamina Website : http://www.pertamina.com